Li Auto plans to use the financing from its Hong Kong listing to expand its production capacity and charging facilities, company co-founder and president Shen Yanan said Thursday.
Li Auto is officially listed on the Hong Kong Stock Exchange today under the ticker symbol "2015," taking the same dual-primary listing as its local counterpart Xpeng Motors.
In an interview with the media after the listing ceremony, Shen said Li Auto will focus on electric drive technology and the development of next-generation extended-range technology and 400kW high-speed charging technology.
Li Auto's R&D investment in autonomous driving technology and smart cockpit will also increase, Shen said.
Li Auto is developing the X platform, which succeeds Li ONE's existing extended-range electric vehicle platform.
The company plans to launch the first product on the X platform, a full-size luxury extended-range electric SUV, in 2022 and two additional SUVs on the X platform in 2023.
Li Auto is developing two platforms - Whale and Shark - for its future high-voltage electric vehicles and plans to launch at least two new high-voltage electric vehicle models each year starting in 2023.
Li Auto plans to add capacity in Beijing to prepare for the production of pure electric models, with the goal of mass production of pure electric models by 2023, Shen said.
In terms of charging facilities, in addition to the 400kW high-speed charging technology that is in the development process, Li Auto plans to roll out charging infrastructure in advance of the 2023 launch of its pure electric models.
Li Auto is investing more in sales channels and expects to have more than 200 directly operated sales centers by the end of this year.
As of August 11, Li Auto had 110 directly operated sales centers.
Continued financing will likely also be part of Li Auto's efforts over the next two to three years.
After completing its US IPO, Li Auto has already started planning for a Hong Kong IPO. After the dual-primary listing in Hong Kong, Li Auto does not rule out a listing in the Chinese A-share market, Shen said.
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